USD/CAD Technical Analysis: Forms a symmetrical triangle (bullish continuation pattern) on hourly chart

   •  The pair has been oscillating between two converging trend-lines, forming a symmetrical triangle on the 1-hourly chart just below six-week tops set last Friday.

   •  Given that the pair has held above important intraday moving averages - 100 & 200-hour SMAs, the triangle could be categorized as a continuation pattern.

   •  Moreover, technical indicators on the mentioned chart are yet to gather negative momentum and further add credence to the bullish set-up/positive outlook.

   •  However, a convincing break through the triangle support, currently near the 1.3100 handle, will invalidate the outlook and prompt some aggressive long-unwinding trade.
 

USD/CAD 1-hourly chart